What is Middle Class Income in Missouri?
How much you should make a year to be considered as a middle class in Missouri, take a clear look at the income levels that define the middle class in the state.
For families in Missouri, being part of the middle class means earning between $41,764 and $177,038 annually, depending on family size. This article provides a detailed picture of these income ranges for different family sizes, from two-person households to families of four.
Household Size: | Two Person Family | Three Person Family | Four Person Family |
---|---|---|---|
Income Range: | $41,764 – $124,668 | $48,967 – $146,170 | $59,308 – $177,038 |
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What is Middle Class?
The middle class is a crucial part of the economy, sitting between the upper and the lower. Typically earning around the average income, middle-class people usually have stable jobs and a comfortable lifestyle that allows them to save and plan for the future. They value education, owning property, and hard work.
The size and income ranges of the middle class can change depending on the cost of living and economic differences in each state. Nonetheless, their role is essential – they indicate the state of the economy and are key drivers of spending, contributing significantly to the country’s economic and social development.
Upper-Class Income in Missouri (2023)
- In Kansas City, Missouri, the lowest income to be considered “rich” (top 20%) is $109,276.
- The average income of the top 20% in this area is $190,266, while the average income of the top 5% is $336,124.
- According to census the statewide, Income for the top 10% in Missouri is above $150,000.
- For a broader perspective, according to 2018 figures by Pew, adjusted for cost of living in a metropolitan area, households with incomes greater than $145,500 are considered upper-income for a three-person household.
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What is Median Income in Missouri?
According to data from justice.gov, This table below provides a breakdown of the median income for families ranging from one to four members.
Family Size | Median Income Range |
1-person family: | $53,547 |
2-person family: | $69,614 |
3-person family: | $80,022 |
4-person family: | $94,774 |
Comparatively, census.gov data shows that the median household income in Missouri is $65,920, with a per capita income of $36,754. However, the state faces a significant poverty rate, with 13.2% of its population living below the poverty line.
Missouri Median Income Distribution by City
City | Median household income | Per capita income in past 12 months | Poverty % |
Kansas City, MO | $65,256 | $38,146 | 14.9% |
St. Louis city, MO | $52,941 | $36,722 | 20.2% |
Springfield, MO | $43,450 | $28,806 | 20.3% |
Columbia, MO | $60,455 | $35,625 | 21.4% |
Independence, MO | $57,415 | $31,491 | 15.1% |
Lee’s Summit, MO | $103,447 | $47,879 | 5.3% |
O’Fallon, MO | $104,863 | $45,938 | 4.5% |
St. Joseph, MO | $54,515 | $30,667 | 18.1% |
St. Charles city, MO | $83,589 | $83,589 | 5.9% |
Blue Springs city, MO | $82,965 | $38,842 | 6.4% |
Source: census.gov, justice.gov
Here’s How Maximize Financial Opportunities in Missouri
To uplift the economic status, we have listed some recourses for you. From tax credits and educational grants to public assistance initiatives, these resources offer vital financial support to help Missourians families.